Townsends Bankruptcy Updates: Creditors' Committee Appointed; Important Recent Court Filings


As we previously reported, Townsends, Inc. and four affiliates - Townsend Farms, Inc.; Townsends of Arkansas, Inc.; Townsend Farms of Arkansas, Inc.; and Crestwood Farms LLC - voluntarily filed for chapter 11 bankruptcy protection in Delaware on December 19th. Townsends is a major producer of poultry products which contracts with more than 300 growers with over 1,200 chicken houses, has over 3,000 employees, and generated over $504 million in revenue for the twelve months ended December 5, 2010.

Yesterday, the United States Trustee for Region 3 announced the appointment of an Official Committee of Unsecured Creditors in the Townsends bankruptcy cases. The creditors appointed to serve on the Committee are:

• International Paper Co.

• Commodity Specialists Company

• Cargill Inc.

• Novus International Inc.

• Install Inc.

The Creditors' Committee has selected the law firm of Lowenstein Sandler, PC as its proposed counsel (counsel appointment requires court approval, which has not yet been sought).

In addition, a variety of important and informative documents have been filed in the Townsends bankruptcy cases since our last report. A selection of those court filings is included in the document attached below; for ease of use, the filings have been separated into two categories - first, orders entered by bankruptcy judge Christopher S. Sontchi and, second, motions, applications and other pleadings filed by Townsends or its creditors.

For access to all major pleadings filed in this case, please visit:

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Randall Reese, Restructuring Concepts LLC | Attorney Advertising

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